The central bank is set to end this month a program of buying US$600 billion of treasures in a second round of so-called quantitative easing designed a bolster economic growth. In Indian multi commodity exchange ( MCX ) market in gold advanced to US$1542.75 an ounce in the morning fixing used by some mining companies to sell output, from US$1540 at the afternoon fixing on june 3.
U.S. economy expected to arrive in the slowness of the trend of investors towards gold and silver grew. Comacs 0.5 percent faster with the gold closed at $ 1547. On MCX, gold closed at Rs 22 699 with marginal gains.
Gold – Silver is trading today on the decline. Comacs the gold is trading around $ 1440. Tuesday after the fast profits in gold has come today. While domestic business in gold – silver remains soft.
Crude oil today is going to decline. Naimacs the crude oil is approaching $ 98. OPEC to increase crude oil production is going to be meeting today. Pressure on crude oil production is projected to grow.
In Indian Multi Commodity Exchange ( MCX ) market is trading in the range as RSI for 18days is currently indicating 56.39, where as 50DMA is at 22367.06 and mcx gold is trading above the same and getting support at 22545 and mcx gold below could see a test of 22467 level, And resistance is now likely to be seen at 22711, a move above could see prices testing 22799.